27552 (PEC.V) (PEC) Stock Price, News & Analysis

Porto Energy Corp. (Porto) is a development-stage international natural resources company. Porto is engaged in the exploration, development and production of crude oil and natural gas. The Company, through its wholly owned subsidiary, Mohave Oil and Gas Corporation (MOGC), holds working interests in five concessions located in the Lusitanian Basin of Portugal, which include the Aljubarrota-3, Torres Vedras-3, Sao Pedro de Muel-2, Cabo Mondego-2 and Rio Maior-2 covering a total of 1,444,152 net acres. Porto’s Lusitanian Basin is located on and offshore west-central Portugal and covers an area of approximately 30,000 square kilometers. As of February 1, 2011, the Company held 97.5% working interest in Torres Vedras-3 Concession for reservoirs below a depth of 400 metres and 87.5% for reservoirs above 400 metres. On January 30, 2010, it was formed through the amalgamation (the Amalgamation) of Porto and Mohave Exploration & Production Inc. (MEPI).